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BP receives $4 billion for compensation fund

BP receives $4 billion for compensation fund

POSTED: Monday, October 17, 2011 - 2:58pm

UPDATED: Monday, October 17, 2011 - 3:29pm

Anadarko Petroleum, a company that had a share in the failed Macondo well, is contributing to the $20 billion compensation fund.

AP had a 25 percent share in the well; they've settled with BP for $4 billion.

The oil giant says that money will go into their $20 billion fund set up to compensate for damages.

The blowout preventer on the Macondo failed last year, killing eleven workers and starting the biggest oil spill in U.S. history.

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